The former Manchester United and Everton boss will succeed Slaven Bilic in the role after the Croatian was relieved of his duties on Monday.
Moyes will become the 16th manager in West Ham’s history and will sign an interim six-month contract, with the club languishing in 18th place in the Premier League.
His first match in charge will be the Sunday clash against Watford at Vicarage Road on November 19.
Prior to Bilic’s sacking, Moyes publicly expressed an interest in the West Ham job while working as a TV pundit in Doha.
The 54-year-old told beIN Sports: “I’ve always said I want to go back into club management and if the right opportunity comes around, then I’ll be interested.
“I’ve been there myself, I know what Slaven is going through at the moment. He must be hating it and wanting to get a result as quickly as he can. If it becomes available yes, but at the moment it’s not available.”
Moyes has been out of working since leaving Sunderland at the end of last season after failing to keep the club in the Premier League.
Sunderland won just six of their 38 top-flight matches under Moyes and finished bottom of the table.
West Ham have won only two of their opening 11 Premier League matches and were beaten 4-1 at home by Liverpool on Saturday.
They face a tough run of fixtures in the lead up to Christmas, with matches against Manchester City, Chelsea and Arsenal still to come.
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